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Bernstein SocGen Group lowered its price target on Skydance Corporation to $6 from $12.
Skydance has a market cap of less than $40 billion -- less than half the value of Warner Bros. Discovery and Paramount prior to the merger.
Skydance said the NYSE reduced its reference price by $0.19, using the warrants’ $2.20 closing price and the proportion of eligible shares.